Help Guide to use the Learn More About Healthcare Costs category: Click on LEARN MORE – GENERAL COST of Medical Care if you want to learn about a typical price or approximate average cost for surgery or health care service. The LEARN MORE – HEALTH INSURANCE cost category provides links to learn about problems of the uninsured, how much average insurance premiums cost, HSAs and High Deductible Health Plans, and the difficulty in finding low cost affordable health insurance.
Analysis by the American Hospital Association shows that Medicare and Medicaid under-pay the true cost of hospital care by about $76 billion. This cost ends up being borne by other payers and commercial insurance. Using 2019 data, it is estimated Medicare pays 87 cents on the dollar, and Medicaid pays 90. January 2021 report.
National Health Costs for 2019 reached an estimated level of $11,582 per capita (per person). Which means every man, woman and child spent on average, nearly $32 EACH DAY (either through insurance, out-of-pocket costs or taxes) to pay for America’s healthcare. This represented 17.7 percent of GDP, $3.8 trillion. Although health spending increased 4.9% in 2019, the percent of GDP remained constant at 17.7% from the revised 2018 report. Medicare spending grew 6.7%, Medicaid growth was 2.9%; private insurance was up 3.7%. Out of pocket grew 4.6%. Retail prescription drug spending was up 5.7%. Freestanding nursing care facility spending was up 3.3%. CMS data published December 2020.